Wana, West Virginia Property Taxes
The median property tax rate in Wana, WV is 0.64%, notably lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Wana at $69,900, the typical annual property tax bill amounts to $493, which is significantly below the national median of $2,690. Property taxes in Wana are determined based on the assessed value, which often falls short of the market value due to various exemptions like the primary residence and agricultural exemptions. Gaining insight into Wana's property tax system, exploring available exemptions, and discovering opportunities for reductions can result in substantial annual savings. Whether you're residing in the heart of Wana or another part of Monongalia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wana, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s WANA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WANA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WANA to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wana, West Virginia
Property taxes in Wana, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wana is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Wana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wana estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wana's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26590 has both the highest and lowest median property tax rate in Monongalia County, standing at 0.64%. Understanding how these areas compare with Wana provides valuable insights into the varying tax landscape across Monongalia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wana Tax Rate
0.64%
Average Monongalia County Tax Rate
0.64%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wana, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | 0.41% | 0.51% | 0.64% | 0.64% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Wana, West Virginia
In Wana, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Monongalia County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wana, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Wana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Monongalia County is $493 in the 26590 zip code, while the lowest median tax bill is also $493 in the same zip code.
Average Wana Assessed Value
$69,900
Average Monongalia County Assessed Value
$146,600
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wana, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | $9,380 | $33,225 | $69,900 | $114,575 | $147,190 |
Source: Ownwell
Property Tax Bills Across Wana, West Virginia
In Wana, located in Monongalia County, WV, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the home's market value. Homeowners in Wana experience varying property tax bills depending on several factors, including the assessed value of their property and the specific tax rates applied by local taxing entities. For instance, the median home price in Wana is $69,900. Property tax bills can range significantly, with the 25th percentile bill at $235 and the 75th percentile bill at $718. At the higher end, the 90th percentile tax bill reaches $971. These figures illustrate the financial impact on homeowners, who must budget for these annual expenses. Compared to the national median property tax rate of 0.99%, Wana's property tax rates can be considered relatively moderate, providing some relief for local homeowners. Understanding these factors helps residents anticipate their financial obligations and plan accordingly.
Average Wana Tax Bill
$493
Average Monongalia County Tax Bill
$1,138
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Wana, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26590 | $64 | $235 | $493 | $718 | $971 |
Source: Ownwell